Act now to file your tax return

If you’ve just realised you are required to submit your tax return for 2011/12 and have done very little about it, you are not alone! The 31 Jan 2013 deadline is fast approaching but if you act now, you stand a good chance of submitting everything in time.

The deadline for paper returns has long since passed and so online is now your only option.

If you haven’t already done so, you’ll need to register for self assessment and this can be done online with HMRC. You’ll receive your Government Gateway info through the post and can then go ahead and prepare  and submit your online tax return.

Whilst you’re waiting in those initial few days for HMRC to process your SA registration, start to get your accounts ready now. Some things to consider for even the most straight forward tax returns may be:

  • locating your P60 slip/s (issued on receipt of employment or pension income)
  • finding receipts for expenses such as assets purchased, utilities bills, stationery, printing fees etc
  • compiling a mileage expense log for each month
  • digging out any invoices you’ve issued and totalling up for the year
  • dividend income on share portfolios – see dividend vouchers

You may have more complex affairs, including overseas interests or capital gains issues which requires input from a professional accountant.

Act now and you may just avoid the £100 late filing penalty.

Good luck!

Curo

January 2013

 

 

 

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